Signature Estate & Investment Advisors LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Signature Estate & Investment Advisors LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,784 shares of the wireless technology company’s stock, valued at approximately $555,000.

Several other hedge funds also recently modified their holdings of the stock. State of Michigan Retirement System grew its position in QUALCOMM by 0.6% in the 2nd quarter. State of Michigan Retirement System now owns 323,866 shares of the wireless technology company’s stock worth $64,508,000 after purchasing an additional 1,800 shares in the last quarter. Callan Family Office LLC bought a new stake in QUALCOMM during the second quarter worth $468,000. Rational Advisors LLC purchased a new position in QUALCOMM in the second quarter worth $609,000. Verdence Capital Advisors LLC grew its stake in QUALCOMM by 4.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 23,865 shares of the wireless technology company’s stock valued at $4,753,000 after purchasing an additional 1,099 shares during the period. Finally, Catalyst Financial Partners LLC increased its position in shares of QUALCOMM by 11.5% during the 2nd quarter. Catalyst Financial Partners LLC now owns 10,349 shares of the wireless technology company’s stock valued at $2,061,000 after purchasing an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.6 %

QCOM opened at $173.93 on Wednesday. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $187.16 and a two-hundred day simple moving average of $180.75. The company has a market capitalization of $194.11 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Analysts forecast that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Tigress Financial raised their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. KeyCorp boosted their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Wolfe Research lowered shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.63.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.